Tax preparation applications have greatly reduced the difficulty in preparing ones taxes. Tax preparation applications typically present a series of interview screens to a user (e.g., a tax payer or the tax payer's representative) in order to extract information from the user. Such information may typically include information related to the user's identity (e.g., Social Security Number, driver's license number, etc.), financial information (e.g., salary, investments, charitable deductions), and other information that may impact a tax payer's tax return (e.g., number of dependents, home ownership status, etc.). While tax preparation applications are considered by many to be an easier method for preparing a tax return than many alternatives (e.g., using tax worksheets to complete a tax form, such as IRS Form 1040), users may continue to spend a considerable amount of time gathering the correct information and/or data necessary for answering the many questions posed by tax preparation applications.
Additionally, while tax preparation applications can greatly simplify the process of generating a tax return, many users do not find them particularly engaging or entertaining. For instance, many tax preparation applications require a user to perform a series of repetitive tasks (e.g., data entry) until the tax preparation application has acquired the requisite data to complete the generation of a tax return for the user. As such, many users typically engage in tax preparation activities only when required (e.g., shortly before a tax return is due to a taxing authority).
The characteristics described above with respect to tax preparation and tax preparation applications generally apply to financial planning and financial planning applications, as well. For instance, financial planning applications may create a comprehensive snapshot of a user's financial status by presenting a series of interview screens to a user in order to extract financial information from the user. Such information may include information related to income, investments, retirement, education, and other finance-related items. Furthermore, as is the case with tax preparation applications, financial planning applications may in some cases require a series of repetitive tasks (e.g., data entry, online account configurations, etc.). As such, many users may infrequently update their financial snapshot and thus fail to reap the full benefits of financial planning applications.